FNCCI woos Chinese investors in energy sector

Flag-Pins-Nepal-ChinaKATHMANDU: The business community has sought investment from China to curb the increasing trade deficit with the northern neighbour.

In a meeting with a business delegation led by Yang Hui, deputy director of the Department of Commerce of Yunnan Province of China, today, office bearers of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) showcased project profiles of ready-for-implementation projects in hydropower, tourism and infrastructure, the statement issued by FNCCI said.

FNCCI had prepared the profiles of ready-for-implementation projects during economic summit last year hosted by FNCCI.

“The Chinese government has provided preferential market access for 7,786 goods and the private sector will utilise this facility,” the statement quoted Pradeep Jung Pandey, president of FNCCI as saying in the meeting with the Chinese delegation, further adding, “But, we need more investment for increasing the production base first, which subsequently will strengthen bilateral economic ties.”

Pandey also stressed on trade related infrastructure development to increase the volume of trade. According to the statement, he emphasised on the simplification of mode of payment for trade with China, well-equipped customs on both sides of the Sino-Nepal border, simplification in quarantine services, sanitary and phytosanitary measures in Nepali agro products and identification of products that have export potential to China.

During the meeting, Pandey also invited the Chinese delegation to participate in the international trade fair going to be held in Kathmandu in February, 2015, on the initiative of FNCCI.

Hui said, “Chinese investors are keen to invest in joint-ventures with Nepali investors.” Hui stressed on business-to-business (B2B) relation between business persons of both countries.

Presenting a paper on the energy sector development in Nepal, Gyanendra Lal Pradhan, president of energy committee under FNCCI highlighted the facilities provided by the government for investors of hydropower sector, the statement read.

Representatives of Sino Hydro Bureau, China Kunming Engineering Cooperation, China Yunnan Sunny Road and Bridge Co, Yunnan Construction Engineering Group Co Ltd, and Yunnan Provincial Energy Investment Group Co Ltd were part of the Chinese delegation.

Source : The Himalayan Times